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Art of Smooth Pasting : FUNDAMENTALS OF PURE AND APPLIED ECONOMICS - A. Dixit

Art of Smooth Pasting

FUNDAMENTALS OF PURE AND APPLIED ECONOMICS

By: A. Dixit

Paperback

Published: 11th May 1993
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First Published in 1993. Routledge is an imprint of Taylor & Francis, an informa company.

Introduction to the Series
Preface
Brownian Motionp. 1
Random Walk Representationp. 2
Ito's Lemmap. 4
Geometric Brownian Motionp. 6
Some Generalizationsp. 8
Discounted Present Valuesp. 9
Present Values for Exponential and Polynomialsp. 10
Present Values for Powers of Geometric Brownian Motionp. 13
A Basic Differential Equation for Present Valuep. 14
Derivation by Discrete Approximationp. 15
The General Solutionp. 16
Differential Equation for Geometric Brownian Motionp. 19
General Diffusion Processesp. 21
Barriersp. 22
The Basic Differential Equationp. 23
Geometric Brownian Motionp. 25
Stoppingp. 25
Resettingp. 26
Reflectionp. 26
Example: Price Ceilingp. 27
Example: Exchange Rate Target Zonesp. 28
Transitional Boundaryp. 30
Example: Temporary Suspensionp. 31
Optimal Control and Regulationp. 32
Stoppingp. 34
Example: Irreversible Investmentp. 37
Convex Costs: Continuous Controlp. 38
Lump-Sum Costs: Impulse Controlp. 39
Example: Menu Costsp. 41
Linear Costs: Barrier Controlp. 42
Some Geometry and Intuitionp. 43
Example: Competitive Industryp. 45
Generalizationsp. 47
Mean-Reverting Processesp. 47
Finite Horizonp. 49
Some Characterization of Optimal Pathsp. 51
Short Run: Time Until First Actionp. 52
Long Run: Stationary Distribution and Average Actionp. 58
Dynamics of Brownian motion: Kolmogorov Equationsp. 63
Referencesp. 69
Indexp. 71
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9783718653843
ISBN-10: 3718653842
Series: FUNDAMENTALS OF PURE AND APPLIED ECONOMICS
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 92
Published: 11th May 1993
Country of Publication: CH
Dimensions (cm): 21.59 x 13.97  x 0.56
Weight (kg): 0.13
Edition Number: 1